We have all heard the jokes about accountants being little grey men in suits, counting pennies but CPA’s are so much more than number crunchers and tax preparers today. After many years in school and then doing practical hours in the field of various different businesses, we really see what works and what doesn’t on the ground level. Its from that place that we are able to advise business owners in strategic decisions and financial planning. We quarterback your financial team and reach out to attorneys and other advisors as needed.
In addition, CPA’s are subject to rigorous ethical and licensing requirements. The CPA license is one of the most widely recognized and highly trusted professional business designations in the business world.
It is important to distinguish between the roles of CPA’s bookkeepers, accountants and tax preparers, many of whom work together to ensure sound financial groundwork for a client. Bookkeepers perform data input tasks, accountants then review this data input and prepare financial statements. CPA’s do a higher level review and advise on tax and financial matters on the basis of the financial statements prepared by the accountant. Most CPA’s will have a bookkeeper and an accountant on their team. Accountants and tax preparers can prepare and sign tax returns. The IRS however does distinguish between tax preparers and CPA’s and a CPA can represent you in all matters in front of the IRS.